Atlas Copco, a pioneer in sustainable productivity solutions, has closed the acquisition of Klingel Joining Technologies, an automotive company specialising in flow drill technology.
Klingel Joining Technologies, based near Munich in Germany, is one of three business units of Klingel GmbH. The business had revenues of approximately MEUR 8.5 (MSEK 82) in 2017 and 23 employees are joining Atlas Copco.
Atlas Copco announced in March 2018, that it had agreed to acquire the assets of Klingel Joining Technologies. The purchase price is not material relative to Atlas Copco’s market capitalisation and is not disclosed.
Flow drill technology is a mechanical joining method used for aluminium and mixed material applications.
The acquired business becomes part of Atlas Copco’s Industrial Assembly Solutions division in the Industrial Technique business area.